Bike Helmet Market Trends, Shifting Industry Dynamics, and Current Industry Growth Analysis by 2028
Research Reports
Apr 13, 2023
Market Research Future Insights
According to MRFR analysis, the global bike helmet market is expected to register a CAGR of 5.35% from 2021 to 2028 and hold a value of over USD 1.12 billion by 2028.
The Bike Helmet Market is observing increasing trends due to the public’s shift toward cycling to stay healthy. The habit of cycling can diminish the increasing rates of obesity and can improve health. Therefore, the need for safety equipment and apparel is pushing. The government is also taking initiatives to use safety equipment while riding bikes. The rules have become compulsory to follow, which is supporting the market. The rise in sustainability issues has led to an upsurge in many global cyclists. The higher sales rate of cycling helmets in the forecast period leads the market to gain a higher share value. The rising disposable income drives purchasing power, and attractive bicycle riding activities. This has augmented the bike sales rate globally. Moreover, the enhancements in products and advanced safety features are improving the product appearance, advancing the Bike Helmet Market.
The worldwide outburst of COVID-19 has brought huge uncertainty to the global industry. To control the spread of the COVID-19 epidemic, governments around the world had adopted lockdown interferences and stringent social distancing guidelines. As the coronavirus spread widely, people around the world had begun to practice social distancing, which led to limits on the movement and shutdowns of production lines. All these factors affected automotive sales.
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Key Players
Some of the key market players are Vista Outdoor Operations LLC (US), Dorel Sports (Canada), KASK S.p.a. (Italy), Trek Bicycle Corporation (US), Uvex Sports (Germany), Orbea (Spain), Specialized Bicycle Components (US), MET-Helmets (Italy), SCOTT Sports SA. (Switzerland), Limar Srl (Italy)
Market Segmentation
The global bike helmet market has been segmented into type and application.
Based on type, the bike helmet market has been segmented into road helmets, sports helmets, and MTB helmets. The segment of road helmets accounted for the largest market share during the forecast period. Significant market regulations that require the use of helmets in everyday travel have increased the expansion and development of the segment in most countries. In addition, the market regulations for manufacturers and producers of helmets to bring lightweight and safer goods would accelerate the development of the market. However, the sports helmet segment is projected to have the highest CAGR reported during the forecast. The increasing market pattern of sports activities, especially in developed countries, is pouring the growth of the global segment.
Based on application, the global bike helmet market has been segmented into daily travel and sports or adventure. The daily travel category accounted for a greater market share. The upsurge is motivated by the increasing number of injuries and regulation of the government mandates for the use of bike helmets for on-road bikers. In the imminent years, as a part of the forecast period, however, the growing popularity of adventure sports is expected to propel the development of the sports or adventure market. The sports section of the market is also projected to display a higher CAGR over the forecast period.
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Regional Analysis
Asia Pacific seized the largest market share of more than 65.0% in 2021 due to the strong buyer foothold of the two-wheeler market in countries such as China, India, Indonesia, and Vietnam. Major manufacturers involving, including DaineseSpA, Shoei Co. Ltd, Arai Helmet Ltd, and Schuberth GmbH are launching new products to gain the most customer penetration in the region.
Europe is anticipated to register the highest growth rate during the forecast period. In the global market, Europe is expected to witness the highest CAGR of 7.8% from 2021 to 2028. Motorcycle recordings in this region raised by more than 7.0% in 2021, totaling 949,470 unit recordings. However, it does not account for a substantial portion of the worldwide market as people in Europe use motorcycles for recreational or vacation purposes, while Asians use them for everyday transportation. Hence, with a growing number of electric mopeds or motorcycles, this region is projected to exhibit the highest growth rate during the forecast period.
Discover more research Reports on Consumer and Retail Industry, by Market Research Future:
Cycling Helmet Market: Information by Type (Road Helmets, Sports Helmets and MTB Helmets), Application (Daily Transportation and Sports/Adventure) and Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) – Forecast till 2030
Motorcycle Apparel Market: Information by Product Type (Helmets, Jackets, Gloves, Shoes, Pants, Base Layers and others), End Use (On-Road Motorcycle Apparel and Off-Road Motorcycle Apparel), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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